Thai Tycoon Pulls Off Ping An Deal

By

Alison Tudor

Updated Feb. 4, 2013 2:31 a.m. ET

When China Premier Wen Jiabao flew to Bangkok on Nov. 20, he headed to meet a large group of rich and powerful Thai businessmen, including billionaire Dhanin Chearavanont, who made his fortune selling frozen chickens.

Just a few days later, British bank HSBC Holdings PLC announced plans to sell a 15.57% stake in China's second-largest property and casualty insurer, Ping An Insurance (Group) Co., to a conglomerate controlled by Mr....